|Home > Business Lending Services|
To fund and grow your business. We fully understand and are committed to the needs of small business when it comes to capital to manage, fund and grow your business. That’s why we offer a variety of lending products that can economically and efficiently provide you with the money you need for your specific initiatives. In addition, you’ll have the benefit of dealing personally with experienced lending professionals who not only understand the challenges of small business, but who also are resolved to help you grow and prosper through Homefield Credit Union.
Our term loans are designed to meet your long-term needs. Generally written for a period of greater than one year, they can assist you with the purchasing of equipment or other assets. They can also be used for valuable renovations to an existing business location.
Any small business will operated with more confidence knowing that they have quick and easy access to capital. That’s why we provide working lines of credit that are perfectly suited for short-term needs. Our lines of credit are an excellent way to bridge the gap between many short-term needs, including:
• Accounts Receivable
Our lines of credit are conveniently issued for one year and are renewable every year after a periodic annual review of your business.
For larger long-term small business needs, we offer business mortgages that can help you in a number of different ways. These secured loans are both efficient and affordable, allowing the small business owner to continue to grow and prosper. They are available for the following:
• Improvements to existing buildings
• Refinancing existing or ballooning mortgages
As a small business, you need to be able to write every check with confidence. Our Business Cash Reserve Loan allows you to do just that. The loan is designed to be used in conjunction with our business checking accounts, and protects against overdrafts that can occur as a result of business operations. The funds are tied directly to your business checking account and will sweep into the account in case an overdraft is triggered. The minimum size for a Business Cash Reserve Loan is$1000.00, and the maximum is $10,000.00.
We have been committed to the health of small businesses since our inception, and we are proud to be an approved SBA lender. SBA loans can assist small businesses that may not qualify for other lending programs, and can be used for the purchase of equipment, supplies, leasehold improvements, refinancing of non-SBA related debt, or can even be used for starting a business.